Matter bounces refer to scenarios wherein the universe contracts at early times as in a matter dominated epoch until the scale factor reaches a minimum, after which it starts expanding. While such scenarios are known to lead to scale invariant spectra of primordial perturbations after the bounce, the challenge has been to construct completely symmetric bounces that lead to a tensor-to-scalar ratio which is small enough to be consistent with the recent cosmological data. In this work, we construct a model involving two scalar fields (a canonical field and a non-canonical ghost field) to drive the symmetric matter bounce and study the evolution of the scalar perturbations in the model. We find that the model can be completely described in terms of a single parameter, viz. the ratio of the scale associated with the bounce to the value of the scale factor at the bounce. We evolve the scalar perturbations numerically across the bounce and evaluate the scalar power spectra after the bounce. We show that, while the scalar and tensor perturbation spectra are scale invariant over scales of cosmological interest, the tensor-to-scalar ratio proves to be much smaller than the current upper bound from the observations of the cosmic microwave background anisotropies by the Planck mission. We also support our numerical analysis with analytical arguments. © 2018 IOP Publishing Ltd and Sissa Medialab.